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New World Resources Gets Noteholder Approval For Restructuring Plan
LONDON (Alliance News) - New World Resources PLC Friday said it has secured approval from noteholders for its consensual restructuring deal at two creditor meetings held today.
The company said it secured approval from 99.4% of the holders of secured notes by value and 95.3% of unsecured noteholders.
New World Resources is to raise up to EUR185.0 million of additional capital through a rights issue to existing shareholders, a placing to participating existing noteholders, and a super senior credit facility to be provided by participating existing noteholders.
New World Resources shares were up 6.1% to 8.75 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Latest NWR News
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